FMBIX vs. VTEAX
Compare and contrast key facts about Fidelity Municipal Bond Index Fund (FMBIX) and Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX).
FMBIX is managed by Fidelity. It was launched on Jul 11, 2019. VTEAX is managed by Vanguard. It was launched on Aug 25, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FMBIX or VTEAX.
Key characteristics
| FMBIX | VTEAX | |
|---|---|---|
| YTD Return | 1.54% | 1.40% |
| 1Y Return | 6.58% | 6.17% |
| 3Y Return (Ann) | -0.79% | -0.27% |
| 5Y Return (Ann) | 0.43% | 1.17% |
| Sharpe Ratio | 1.78 | 2.19 |
| Sortino Ratio | 2.60 | 3.25 |
| Omega Ratio | 1.41 | 1.52 |
| Calmar Ratio | 0.72 | 0.95 |
| Martin Ratio | 6.32 | 8.53 |
| Ulcer Index | 0.97% | 0.81% |
| Daily Std Dev | 3.48% | 3.15% |
| Max Drawdown | -14.31% | -12.74% |
| Current Drawdown | -3.14% | -1.56% |
Correlation
The correlation between FMBIX and VTEAX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FMBIX vs. VTEAX - Performance Comparison
In the year-to-date period, FMBIX achieves a 1.54% return, which is significantly higher than VTEAX's 1.40% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FMBIX vs. VTEAX - Expense Ratio Comparison
FMBIX has a 0.07% expense ratio, which is lower than VTEAX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
FMBIX vs. VTEAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Municipal Bond Index Fund (FMBIX) and Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
FMBIX vs. VTEAX - Dividend Comparison
FMBIX's dividend yield for the trailing twelve months is around 2.52%, less than VTEAX's 3.07% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FMBIX Fidelity Municipal Bond Index Fund | 2.52% | 2.31% | 1.80% | 1.42% | 1.59% | 0.77% | 0.00% | 0.00% |
VTEAX Vanguard Tax-Exempt Bond Index Fund Admiral Shares | 3.07% | 2.75% | 2.06% | 1.61% | 1.97% | 2.28% | 2.24% | 0.34% |
Drawdowns
FMBIX vs. VTEAX - Drawdown Comparison
The maximum FMBIX drawdown since its inception was -14.31%, which is greater than VTEAX's maximum drawdown of -12.74%. Use the drawdown chart below to compare losses from any high point for FMBIX and VTEAX. For additional features, visit the drawdowns tool.
Volatility
FMBIX vs. VTEAX - Volatility Comparison
Fidelity Municipal Bond Index Fund (FMBIX) has a higher volatility of 1.79% compared to Vanguard Tax-Exempt Bond Index Fund Admiral Shares (VTEAX) at 1.61%. This indicates that FMBIX's price experiences larger fluctuations and is considered to be riskier than VTEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.